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India OKs $4B Deal to Buy U.S.-Made Aircraft

June 6, 2011 4:50 am | by MUNEEZA NAQVI - Associated Press - Associated Press | News | Comments

An Indian defense ministry official says the country's cabinet has approved a proposal to buy 10 American C-17 military aircraft for more than $4 billion, the largest defense deal between the two nations.The official, who could not be named because he wasn't authorized to discuss the subject,...

Earnings Preview: Hovnanian Enterprises' 2Q report

June 6, 2011 3:50 am | by ALEX VEIGA - AP Real Estate Writer - Associated Press | News | Comments

Homebuilder Hovnanian Enterprises Inc. is expected to report fiscal second-quarter results after the stock market closes Tuesday.WHAT TO WATCH FOR: How new home orders and closings fared during the February to April quarter, which coincided with the traditional spring home-selling...

RV industry supplier plans N. Indiana expansion

June 6, 2011 3:50 am | by The Associated Press | News | Comments

A recreational vehicle component manufacturer is considering a move into a vacant factory in northern Indiana where it could hire 180 workers in the next few years.The steel fabrication company Lippert Components of Marvin, N.C., has asked the Elkhart City Council for tax incentives if it moves...

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EU approves Lucentis for blocked retinal veins

June 6, 2011 2:50 am | by The Associated Press | News | Comments

Swiss drug maker Novartis says it has received European Union approval for its eye drug Lucentis to be used as a treatment for vision loss caused by blocked retinal veins.Basel-based Novartis AG said Monday the European Commission approved Lucentis as a treatment for macular edema, or swelling...

Daimler, Rolls-Royce Win Control of Tognum

June 6, 2011 1:50 am | by The Associated Press | News | Comments

Germany's Daimler AG and Britain's Rolls-Royce have won control of Tognum AG after their joint takeover offer gave them control of a 59.87 percent stake in the German-based maker of heavy-duty engines.Daimler said Tuesday there are still two more weeks for remaining shares to be tendered under...

Statoil sells stake in Gassled for $3.2 bln

June 6, 2011 12:50 am | by The Associated Press | News | Comments

Norwegian oil company Statoil ASA says it will sell the majority of its stake in gas transportation company Gassled to a holding company for 17.35 billion Norwegian kroner ($3.2 billion).Statoil said Monday it will divest 24.1 percent of Gassled shares to Solveig Gas Norway AS, a holding...

Daimler, Rolls-Royce take majority in Tognum

June 6, 2011 12:50 am | by The Associated Press | News | Comments

German automaker Daimler AG says its joint effort with Rolls-Royce to take over heavy engine company Tognum AG has reached a majority stake of 59.87 percent.Daimler said there is still two more weeks for remaining shares to be tendered under the €26 per share offer.Daimler and jet engine maker...

Final witnesses to testify in Mumbai terror trial

June 5, 2011 11:50 pm | by SOPHIA TAREEN - Associated Press - Associated Press | News | Comments

Only a handful of witnesses are left to testify in the trial of a Chicago businessman accused in the 2008 Mumbai attacks as questions linger about the reported death of a fugitive defendant also charged in the high-profile terrorism case.Tahawwur Rana, the businessman, is accused of providing...

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Malaysia Airlines to join OneWorld Alliance

June 5, 2011 10:50 pm | by The Associated Press | News | Comments

Malaysia Airlines says it will join the airline alliance oneworld and start flying as a member in late 2012.The flag carrier said Monday that its entry will expand oneworld's global coverage to almost 950 destinations in 150 countries, served by a combined fleet of over 2,600 planes carrying...

Nintendo's Wii Successor to Dominate E3 Expo

June 5, 2011 7:50 am | by DERRIK J. LANG - AP Entertainment Writer - Associated Press | News | Comments

Almost six years ago at the annual Electronic Entertainment Expo, Nintendo unveiled what would eventually become known as the Wii. But the Japanese gaming giant didn't show off the new console's distinctive motion-sensing capabilities until later that year at the Tokyo Game Show. Nintendo won't...

Study: Pfizer lung cancer pill may double survival

June 5, 2011 7:50 am | by LINDA A. JOHNSON - AP Business Writer - Associated Press | News | Comments

A much-anticipated drug for advanced lung cancer from Pfizer Inc. appears to double survival over standard drugs against tumors with a certain genetic mutation, according to research presented Sunday.The drug, called crizotinib, would be the first targeted treatment for the roughly 50,000...

China shops for Latin American oil, food, minerals

June 5, 2011 7:50 am | by IAN JAMES - Associated Press - Associated Press | News | Comments

Latin America is blessed with a wealth of natural resources such as oil, copper and soy, and seeks investment and loans to capitalize on them. China needs the commodities to keep its economy growing and has about $3 trillion in reserves to burn.Those interests have come together in a burgeoning...

Nintendo Says U.S. Server Breached, No Data Lost

June 5, 2011 4:50 am | by YURI KAGEYAMA - AP Business Writer - Associated Press | News | Comments

Nintendo was targeted in a recent online data attack, but no personal or company information was lost, the Japanese maker of the Wii game console said Sunday.The server of an affiliate of Nintendo Co.'s U.S. unit was accessed unlawfully a few weeks ago, but there was no damage, company...

Studies find new drugs boost skin cancer survival

June 5, 2011 4:50 am | by MARILYNN MARCHIONE - AP Medical Writer - Associated Press | News | Comments

Doctors are reporting big gains against melanoma, the deadliest form of skin cancer. Two studies on novel drugs find they can extend survival dramatically.An experimental drug, vemurafenib (vem-yoo-RAF'-eh-nib), helped so much that people getting a comparison drug were allowed to switch after...

Nintendo says server breached, no data lost

June 4, 2011 8:50 pm | by YURI KAGEYAMA - AP Business Writer - Associated Press | News | Comments

Nintendo was targeted in a recent online data attack, but no personal or company information was lost, the Japanese maker of the Wii game console said Sunday.The server of an affiliate of Nintendo Co.'s U.S. unit was accessed unlawfully a few weeks ago, but there was no damage, company...

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